Pagaya Beats Earnings Estimates and Raises Annual Profit Forecast

Pagaya, a fintech company specializing in technology that enables financial institutions to allocate credit more precisely, reported strong second-quarter results that exceeded market expectations. The company posted revenues of approximately $366 million, surpassing analyst forecasts by $8.5 million and slightly above its own previous guidance. This represents a 15.1% revenue increase compared to the same quarter in 2025. Net income attributable to shareholders reached $45.3 million, more than 2.5 times higher than the prior year quarter and at the upper end of the company's forecast. Earnings per share stood at $1.07, significantly above analyst estimates.

For the first half of the year, Pagaya reported revenues of $665 million, up 10.7%, and net income increased by 185% to about $70 million. The company highlighted record transaction volumes in the second quarter, driven by growth in the automotive sector. Looking ahead, Pagaya narrowed its full-year 2026 revenue forecast to between $1.425 billion and $1.525 billion, slightly lowering the midpoint. The adjusted EBITDA forecast was raised from $420-$460 million to $460-$490 million, and the net income forecast increased from $110-$160 million to $155-$180 million.

Gal Krubiner, Pagaya's CEO and co-founder, stated, "Our record quarter demonstrates that Pagaya's growth engine is operating at full strength: our partners are channeling larger volumes through us, adopting additional products, and every new partner further strengthens the company's network effect." Pagaya is traded on NASDAQ with a market capitalization of about $1.35 billion, after its stock had declined 22.5% since the start of the year prior to the earnings release.